On Monday, the UK Government announced that the UK government and the industry plan to invest jointly over 1.1 billion pound ($1.5 billion) into the maritime sector.
The government stated that the investment would unlock growth and create jobs in coastal communities throughout the UK. This includes in the engineering and green technology sectors, as well as in construction.
This funding includes 700 millions pounds in private investment at major UK ports, and 448million pounds in public investment to reduce emissions by UK shipping.
The announcement will be made on the 15th of September, which is also the first day for London International Shipping Week.
"We are committing nearly half a billion dollars to reduce carbon emissions from shipping, guiding us towards net zero in 2050," said UK transport minister Heidi Alexander.
(source: Reuters)
Vessel traffic in the Strait of Hormuz plummets, with only two ships reported, raising security concerns amid recent incidents.
TotalEnergies aims to start offshore oil production in Suriname by mid-2028, a major step for the country's energy sector.
Two US-bound vessels were allegedly compromised by hackers, prompting a joint operation by the US Coast Guard and FBI in the Gulf of Mexico.
Finland orders drills to prevent underwater sabotage as incidents in the Baltic Sea threaten critical infrastructure.
